Nigeria is poised to return to its position as the third-largest economy in Africa, according to the International Monetary Fund’s (IMF) latest projections.
The country is expected to have a nominal GDP of $334.34 billion in 2026, behind South Africa’s $443.64 billion and Egypt’s $399.51 billion.
This marks a significant turnaround for Nigeria, which had dropped to fourth place due to prolonged economic challenges.
The IMF attributes Nigeria’s projected growth to recent policies, including the removal of fuel subsidies, efforts to stabilize the naira, and increased oil production.
However, the fund also notes that Nigeria’s economic reforms must translate into sustained and tangible growth, competitiveness, and improved living standards to retain and improve its new standing.
